Overview: During this simulation, participants work through a series of exercises on a workmat that depicts a model of the major functional areas of a hosital. As they move values around the workmat, they actually see what happens to cash levels as specific strategies and decisions are executed.
During this simulation, participants form into teams and each team is competing in the same marketplace for the largest percentage of marketshare they can garner. This simulation focuses on the business side of healthcare. It improves knowledge of medical center strategy, economic and financial planning, and dramatically demonstrates how decisions impact all parts of the organization.
Who has conducted this: Medical University of South Carolina, Children's Hospital in Denver, University of Findlay
After Participating in Healthcare Reality Participants will understand:
Important performance metrics related to revenue, liquidity, expenses, patient satisfaction, and service lines.
How the management and utilization of resources at varying levels of efficiency directly impacts cash flow and revenue surpluses.
The impact of streamlining operations, quality patient care, investment in new technology, and service line flexibility.
The financial logic behind various strategies and how successful implementation of these strategies impacts the hospital/medical center.
The circulation of values throughout the organization and how decisions made in one area impact other parts of the hospital.
